You must be a very rich man with 20 contracts and already losing over 100 points on 1 contract and 19 contracts losing 40 points per contract. What is a large position for you? What in the world would it take you to change you stop from 1075 to something perhaps lower? Or is the 1075 the magic stop? DMartin
I think Buy1Sell2 has me on ignore. I would do the same thing. The amount of money he has lost and continues to lose is sad indeed. Particularly when he does such a disservice to any traders just beginning. If you want to lose money and lots of it follow his advice. DMartin
The rally was a bit weak comparing to other fed rate cuts ... thought we were going to take out the 910-920 region decisively. Hate that we are still trading inside this range.
Pek, you mind posting where the daily top band is right now? Thanks. p.s. I wonder if this kind of back and forth movement is contracting the b.band significantly.
I remain short here. Quick reminder: 80 percent of my portfolio is outside of my futures trading account. Many will recall that I sold all equities in late 2007 after being long in the run up since the last recession. I have been dollar cost averaging back into equities and now have a 4/96 allocation equity/cash. One further quick note: Never risk more than 2 percent of TLNW on any one trade/idea. Good trading to all
connect 11/04 and 12/10 and 12/11 tops in dail spy and the tl is 90-90.3, is it possible that this is a blip,people got caught short and had to cover? on a monthly starting in sept,the tl comes in at 886,yesterdays res til the # came out
long here at 99, adding 94-95 big stop under 84, 1st target 920. did not account for previous runup from Friday's low when calculating the downdrift last night.
It is around 938, but instead of contracting, yesterday's big candle started to push the upper BB higher, what is expected if we go higher... Here is the 5 mins chart that I used for comparison/prediction, we are at the big candle that is in the circle: Although we did dip below the SMA once on closing base so the comparison wasn't that perfect, this chart still seems to be followed...
Foreign investment (short term ones) will pull out of USD based assets based on the melt down of USD. It used to take a week to two before the reaction is felt on US stocks, not sure what would happen this time.